Triumph Group downgraded to Hold at TD Cowen on moderated Boeing ramp

As previously reported, TD Cowen downgraded Triumph Group (TGI) to Hold from Buy with a price target of $14, down from $19.50, citing moderated cash flow due to pared Boeing (BA) 737 and 787 ramp plans and expected lower military results. The firm, which also cites divestiture “overhangs,” believes the stock looks fairly priced at current levels.